In a last minute move before trial on April 18th, Fox News settled a defamation lawsuit from the voting machine company, Dominion, over its reporting of the 2020 presidential election.

The news network agreed to pay $787.5 million (€720m) – around half of the $1.6 billion initially sought by Dominion.

Dominion had argued its business was harmed by Fox spreading false claims the election had been rigged against Donald Trump.

The deal spares Fox executives, such as Rupert Murdoch and CEO Suzanne Scott, from having to testify – as well as on-air hosts including Tucker Carlson, Sean Hannity and Jeanine Pirro.

Fox said the settlement in one of the most anticipated defamation trials in recent US history reflected its “commitment to the highest journalistic standards”. The Fox statement added without elaborating that the network “acknowledges the court’s rulings finding certain claims about Dominion to be false”.

Dominion chief executive John Poulos told a press conference the deal included Fox “admitting to telling lies, causing enormous damage to my company”.

Justin Nelson, a Dominion attorney, told reporters that “the truth matters”.

“Lies have consequences,” he continued. “Over two years ago a torrent of lies swept Dominion and election officials across America into an alternative universe of conspiracy theories, causing grievous harm to Dominion and the country.” Nelson added that for “democracy to endure”, Americans must “share a commitment to facts”.